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Recently, we have had numerous calls by individuals who are confused as to the difference between “soft” inquiries vs. “hard” inquiries on their consumer credit reports.

As a general rule, an inquiry is created when your credit report is accessed by a third party. Typically, these third parties are potential creditors—such as a credit card company, an auto dealership, or a home mortgage loan officer—but are also sometimes debt collection agencies, repossession agencies, insurance companies, and even potential employers. When consumers apply for a car loan, for example, the lender who is being asked to provide the loan will request a credit report for the consumer, which is generally obtained from either Experian, Equifax, or TransUnion. The fact that your credit information was used by these third parties will be noted on the consumer’s credit report, along with the date it was requested, the name of the third party that requested it, and the type of inquiry.

Before we discuss specifics, it is important to note that inquiries remain on the consumer’s credit reports for two years. Soft inquiries will have less of an effect on the consumer’s credit score than hard ones. So what’s the difference?

Hard inquiries are inquiries that can significantly affect a consumer’s credit score. They suggest to potential creditors that the consumer is actively trying to obtain credit, whether it be for a car, a credit card, a home mortgage loan, or simply a student loan. Numerous hard inquiries in a short period of time creates red flags, because it appears as if the consumer is trying to obtain more credit than s/he typically carries, and therefore might not be able to repay, which results in more of a negative impact upon the consumers’ credit score than individual hard inquiries spread out over a longer period of time.

Soft inquiries, on the other hand, are generally not the result of a consumer who is shopping for credit. They can occur due to a consumer who requests their own credit report, or a lender who sends a consumer a preapproved credit offer. Such inquiries are not the result of active credit requests by the consumer, and therefore they do not generally result in the consumer’s credit score being negatively impacted. Other soft inquiries may include a request generated by a potential employer or an insurance company whose purpose is not to provide “credit” to the consumer.

How to Avoid Unintentional Hard Inquiries?

As indicated above, a consumer who reviews their credit report will: 1) not cause a hard inquiry on their own credit report, and 2) can see if others are making hard inquires on their credit report. It is important to know that generating an inquiry (hard or soft) without a “permissible purpose” is a violation of the Federal Fair Credit Reporting Act (“FCRA”).

If you don’t know where to get a free credit report, or what to look for, Semnar & Hartman, LLP can help. We provide a free, no strings attached confidential consultation, where we sit down with any potential client and review their credit reports with them. If there is an error, or an inquiry that should not be there, we can help with disputing the information. If it is not removed with a simple dispute letter, then we may be able take pursue a lawsuit on your behalf, without any fee being charged to you. The FCRA provides for the consumer to obtain his/her attorneys’ fees from those who violate the Act. Moreover, they provide for statutory damages for the consumer for willful violations, even if the consumer has not suffered any actual harm.

NOT LEGAL ADVICE – Please call us to schedule a Free Consultation, whereby you may receive legal advice tailored for your specific situation.

So, feel free to come see us at 400 South Melrose Drive, Suite 209, Vista, California, or simply call us at (619) 500-4187 to schedule a phone consultation to ensure your credit report is free of any unwanted or unauthorized inquires. You can also obtain more information at our website: www.SanDiegoConsumerAttorneys.com